IBNLive.com Transferred To Web 18 Holdings; Global Broadcast News Gets 15% In Lieu Of It

Global Broadcast News’ internet venture IBNLive.com has been integrated into TV18 Group’s internet business division Web 18 Holdings. In return for this, Global Broadcast News will get 15 per cent stake in Web 18. This is the information that we culled out from the 264-page draft red herring prospectus filed with regulator Securities Exchange Board of India.
In fact, all portal businesses of the group are getting consolidated into Web 18 Holdings Ltd, which would hold such businesses either directly or through its subsidiaries. Ibnlive.com was in fact transferred to Web 18 Software Services Ltd, a subsidiary of Web 18 Holdings. As part of the arrangement, GBN would hold 15 per cent equity shares in Web 18 Holdings Ltd.
This internet entity is expected to go public by end of the year. By that time, I am sure Web 18 would be having a collection of internet businesses. It will be India’s second internet IPO after Naukri.com.

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